PCP deal change from order to delivery time

[davyk31]

Thinking of returning to a GTI, previously had a Mk 5 GTI, a Mk 7 GTD and a Mk 7.5 GTI. Loved the 7.5 especially. Keen on a Mk 8.5 Clubsport.

If I order a car now the finance quote will be based upon the interest rate and deposit contribution for quarter one. The car is likely to come about June or July by which time the finance deal may have changed. If the overall deal is better at that time as regards the deposit contribution or interest rate can I avail of that or am I tied into the deal they quote now.

[DrivenToDistraction]

Nice idea (get a future deal that doesn't yet exist) but unfortunately not. You should ensure, however, that you are protected from any VW price increases between order date and delivery date. Sadly, you won't be protected from the £1000 increase in first year VED that kicks in on 1 April.

Will be interesting to hear if you go ahead and, if so, what spec you go for.

[davyk31]

Thanks. Understand the VED raise can’t be avoided so it is just bad timing on that one.

Is a deposit paid at time of order or could an order be cancelled and placed again if a better finance deal appears. I would maybe have a feeling the interest rate may reduce given there have been a couple of BOE rate drops since the Q1 campaign was set.

Likely spec to be Clubsport, Kings Red, 19” Queenstown, DCC, pano roof and area view.

[DrivenToDistraction]

Is a deposit paid at time of order or could an order be cancelled and placed again if a better finance deal appears. I would maybe have a feeling the interest rate may reduce given there have been a couple of BOE rate drops since the Q1 campaign was set.

A deposit is normally paid at the time of the order. If you are doing a finance agreement, check what it says about cancelling after the usual 14 day cooling off period. Is the deposit completely refundable if you cancel a month later? It often isn't. Sure, you can cancel the order and do a new one, but that original build slot will have gone, so you would be starting again from "square one". Always worth checking what is in stock as there may be a car already built that matches your requirements.

The word is that interest rates may come down (very slowly) in 2025 but nothing is certain. VW may reduce their deposit contribution. Who knows? I think you just use VW finance's (PCP) calculator and work out whether you can comfortably afford the repayments over the next 3/4 years.

[SRGTD]

Thanks. Understand the VED raise can’t be avoided so it is just bad timing on that one.

Is a deposit paid at time of order or could an order be cancelled and placed again if a better finance deal appears. I would maybe have a feeling the interest rate may reduce given there have been a couple of BOE rate drops since the Q1 campaign was set.

Likely spec to be Clubsport, Kings Red, 19” Queenstown, DCC, pano roof and area view.

I’ve always been asked for a deposit for any new car I’ve ordered - I think that’s standard practice for all vehicle brands.

If you then subsequently cancel the order, it’s worth considering what would happen to the deposit you’ve paid (do you lose it or get it back in full or just a proportion of it?); IMHO, it’s important to understand what’s in the T&C’s of the order form documentation you’d sign re. cancellation and the return of deposit monies paid.

Bear in mind that any benefit you might gain from re-ordering the vehicle because of a better finance deal could be negated if VW have increased their vehicle list prices since the original order was placed; the price you agree with the dealer for the re-ordered vehicle would be based on the latest list price. From memory, re-ordering a vehicle is treated as a completely new order, in which case you would also go to the back of the queue in terms of your vehicle being scheduled for production.